On May 24, 2021 Seelos Therapeutics, Inc. (Nasdaq: SEEL), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system (CNS) disorders and rare diseases, reported the closing of its previously announced underwritten public offering of 22,258,066 shares of its common stock, at a price to the public of $3.10 per share, which includes the exercise in full by the underwriters of their option to purchase up to 2,903,226 additional shares of common stock (Press release, Apricus Biosciences, MAY 24, 2021, View Source [SID1234580482]). The net proceeds to Seelos from this offering are expected to be approximately $64.5 million, after deducting underwriting discounts and commissions and other estimated offering expenses payable by Seelos. Seelos intends to use an aggregate of $7.3 million of the net proceeds from the offering for the partial repayment of certain outstanding convertible promissory notes and the remainder for general corporate purposes and to advance the development of its product candidates.
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Guggenheim Securities and Cantor acted as joint book-running managers for the offering. BTIG acted as lead manager for the offering. The Benchmark Company acted as a financial advisor for the offering.
The securities described above were offered by Seelos pursuant to an effective "shelf" registration statement on Form S-3 (File No. 333-251356) previously filed with the Securities and Exchange Commission (the "SEC") on December 15, 2020, amended on December 22, 2020 and declared effective by the SEC on December 23, 2020. A final prospectus supplement and the accompanying prospectus relating to and describing the offering were filed with the SEC. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained by visiting the SEC’s website at www.sec.gov or by contacting Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by calling (212) 518-9544 or by e-mail at [email protected].
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.